We are Making a Difference
Below is a sample of actual projects completed by Medical Market Consulting. We believe strongly in client confidentiality and will not reveal specific client information.
Market Research/New Business Development
This medical instrument company needed to make a go/no go decision on purchasing a new technology and hired us to investigate the potential market. We conducted classic market research to determine the market potential and interviewed 25 thought leaders in the field to gather their input on the new technology. Armed with this valuable information, our client company made the decision to purchase this new technology and developed it into a new product line offering.
Product Development
Having developed a prototype surgical instrument, this medical device manufacturer wanted to test its functionality and provide feedback to the development engineers. We scheduled 20 surgeons for prototype testing of this device in a bio skills lab (using cadavers). We gathered information on features, benefits, functionality, anticipated use and projected acceptance of the device. With this specific information, the client company made modifications to the prototype and introduced the new product 8 months later.
Competitive Analysis
An orthopedic company had plans to enter a new segment of the market and sought to gather information on competitors and anticipated new technologies. We interviewed orthopedists and research institutions to identify trends and emerging technologies. We contacted competitive companies to verify information and gather data. Information was cross-referenced, contacts were networked and leads were followed. A competitive analysis was completed which provided this client with background on their competitors and a perspective on future, emerging technologies.
Corporate Image Assessment
This major orthopedic company wanted to know how its customers (orthopedic surgeons, OR supervisors, orthopedic nurses and hospital administrators) perceived them. We conducted a geographically dispersed, random sampling of 60 of their customers, asking questions about products, service and sales representation. A qualitative report was submitted describing how this company was perceived in the marketplace. From this research, several changes were made in the company’s focus and message. Corporate brochures and product literature were changed to reflect this new insight.
Marketing Planning / Marketing Communications
A start-up cardiology company needed to raise funding and position itself as a new technology leader. Together with them, we reviewed their goals and objectives, defined their target market, investigated market conditions and quantified their market potential. A marketing plan was developed from which a solid business plan could be constructed. We developed a communications program including media and public relations support and produced corporate and product brochures. Physician training materials were created to support the use of this new technology. Funds have been raised, the second generation product has been introduced and the company now has a solid position on the NASDAQ.
